New Mexico Educational Retirement Board reduced its holdings in shares of Celgene Co. (NASDAQ:CELG) by 2.5% in the first quarter, according to its most recent filing with the SEC. The fund owned 58,330 shares of the biopharmaceutical company’s stock after selling 1,500 shares during the period. New Mexico Educational Retirement Board’s holdings in Celgene were worth $5,503,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of CELG. BlackRock Inc. increased its holdings in Celgene by 2.8% during the 4th quarter. BlackRock Inc. now owns 53,650,909 shares of the biopharmaceutical company’s stock worth $3,438,486,000 after purchasing an additional 1,459,100 shares during the period. Oregon Public Employees Retirement Fund increased its holdings in Celgene by 9,691.4% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 16,495,997 shares of the biopharmaceutical company’s stock worth $257,000 after purchasing an additional 16,327,522 shares during the period. Geode Capital Management LLC increased its holdings in Celgene by 8.6% during the 4th quarter. Geode Capital Management LLC now owns 9,942,267 shares of the biopharmaceutical company’s stock worth $636,179,000 after purchasing an additional 787,638 shares during the period. Norges Bank purchased a new position in Celgene during the 4th quarter worth $484,390,000. Finally, Clearbridge Investments LLC increased its holdings in Celgene by 9.2% during the 3rd quarter. Clearbridge Investments LLC now owns 7,133,588 shares of the biopharmaceutical company’s stock worth $638,385,000 after purchasing an additional 598,631 shares during the period. 74.81% of the stock is owned by hedge funds and other institutional investors.
Shares of NASDAQ:CELG opened at $94.55 on Wednesday. Celgene Co. has a 12-month low of $58.59 and a 12-month high of $95.44. The firm has a market capitalization of $66.42 billion, a PE ratio of 12.42, a P/E/G ratio of 0.43 and a beta of 1.71. The company has a current ratio of 2.23, a quick ratio of 2.12 and a debt-to-equity ratio of 3.21.
Several research firms have commented on CELG. Atlantic Securities downgraded Celgene from an “overweight” rating to a “neutral” rating and set a $94.34 price objective on the stock. in a report on Monday, April 1st. Sanford C. Bernstein downgraded Celgene from an “outperform” rating to a “market perform” rating in a report on Monday, April 1st. UBS Group downgraded Celgene from a “buy” rating to a “neutral” rating and raised their price objective for the stock from $94.00 to $102.00 in a report on Monday, April 1st. Jefferies Financial Group downgraded Celgene from a “buy” rating to a “hold” rating and set a $95.00 price objective on the stock. in a report on Friday, February 1st. Finally, Wells Fargo & Co cut their price target on Celgene from $90.00 to $84.00 and set a “market perform” rating on the stock in a report on Thursday, January 3rd. One equities research analyst has rated the stock with a sell rating, eighteen have given a hold rating and nine have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $99.41.
In other news, Director James J. Loughlin sold 23,466 shares of the firm’s stock in a transaction on Thursday, February 7th. The stock was sold at an average price of $87.29, for a total value of $2,048,347.14. Following the completion of the sale, the director now owns 62,102 shares of the company’s stock, valued at approximately $5,420,883.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ernest Mario acquired 2,000 shares of the stock in a transaction dated Tuesday, February 12th. The stock was acquired at an average cost of $89.99 per share, with a total value of $179,980.00. The disclosure for this purchase can be found here. 0.39% of the stock is owned by company insiders.
Celgene Corporation, a biopharmaceutical company, discovers, develops, and commercializes therapies for the treatment of cancer and inflammatory diseases worldwide. It offers REVLIMID, an oral immunomodulatory drug for multiple myeloma (MM), myelodysplastic syndromes (MDS), and mantle cell lymphoma; POMALYST/IMNOVID to treat multiple myeloma; OTEZLA, a small-molecule inhibitor of phosphodiesterase 4 for psoriatic arthritis and psoriasis; and ABRAXANE to treat breast, non-small cell lung, pancreatic, and gastric cancers.
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